Using the information shown in Table 1 complete a standard cost variance analysis. Determine the manufacturing variances for direct material and direct labor.

Panel A
Standard Prime Costs Per Unit
Direct Material
# of yards required per finished unit	3.00
cost per yard	$14.75
Standard DM cost per unit	$44.25
Direct labor
DL hours per unit	0.25
DL cost per hour	$22.00
Standard DL cost per unit	$5.50

Panel B
Selected Actual Information
Total volume of finished units manufactured	7,500
Direct material actual price per yard	$14.05
Direct material actual quantity purchased	26,250
Direct material actual quantity used	26,000
Actual direct labor hours	2,200
Actual direct labor rate per hour	$21.90